On May 1, Ximalaya submitted an IPO application to the SEC, with Goldman Sachs, Morgan Stanley, Bank of America and CICC acting as joint underwriters. On the same day, Reuters reported that LinkDoc, a Chinese medical technology company, had also shelved its IPO plan. The Financial Times reported on Thursday that Keep, a Chinese sports-oriented social platform, and Ximalaya, the largest podcast platform in China, have both cancelled previous IPO plans in the United States during recent weeks.#SOURCES CHINABASED KEEP LINKDOC US IPOTIMES FULL#.#SOURCES CHINABASED KEEP LINKDOC US IPOTIMES PLUS#.IPO is seen as an example of the great lengths the Chinese government will pursue, even if a company has a high-profile name and numerous foreign investors. “After communication with the relevant regulators, Ximalaya understands that a Hong Kong listing would be regarded as a preferred outcome,” the source told FT.Ĭhina’s crackdown on Didi following its U.S. #SOURCES CHINABASED KEEP LINKDOC US IPOTIMES FULL# The Chinese podcast platform Ximalaya recently suspended its U.S. The truck-hailing app Full Truck Alliance and online recruiter Boss Zhipin are two of the many Chinese companies that filed plans to go public in New York IPOs this year and are being subjected to intense scrutiny. The popular Chinese fitness app Keep is backed by Japan’s SoftBank and China’s Tencent and was looking to raise $500 million, sources told FT.
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